Has about 60 stores in Alberta and British Columbia. Prefers Liquor Stores Income Fund (LIQ.UN-T), which is larger. They expect to grow through accretive acquisitions. Still in the process of integrating 8 companies.
This was a business that depended on the high valuation that they got as an income trust. Not only will they be taxed with no shield, but the ability to make acquisitions has been reduced.
Perfect model for a trust. Located in the best part of the country, Alberta. Has come off quite a bit. Would wait until after the budget later this month.